Safestyle warns of annual loss; sees improvements in 2019

17 December 2018 | 08:24am

StockMarketWire.com - Replacement window and door manufacturer Safestyle warned it expected to post an annual loss due to increased costs, though it saw its performance improving next year due as its investments bore fruit.

Revenue for the year through December was expected to be ahead of expectations.

However, the company said it had also invested more than budgeted in lead generation, commissions and associated overheads.

Underlying pre-tax losses were expected to come in between £8.2m and £8.6m.

'However, as a result of the aforementioned recruitment activity and associated investment in growth -- and notwithstanding the fact that management's three-phase turnaround plan is in its early stages against a backdrop of weaker consumer confidence -- the board is confident that the recovery and performance in 2019 will be ahead of current market expectations,' Safestyle said.

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